Consultant Salary In TCS
TCS is one of the largest IT services companies in India and it is also one of the most reputed firms in the world. The company has a huge employee base, but it is not easy to get a job at TCS. The company recruits thousands of people every year for its various positions, but only those candidates who are selected go through the recruitment process.
Consultant Salary In TCS
The company offers various job profiles to its employees, including software developers, managers, analysts, engineers and so on. Each role comes with its own set of responsibilities and expectations from the employee. The salaries offered by TCS depend on the role that you apply for and how well you perform during your first few months on the job.
TCS has always been known as one of the best companies when it comes to providing benefits to its employees. The company offers medical insurance coverage up to Rs 50 lakh per year for all its employees across India as well as abroad (depending on where they are posted). The company also provides retirement benefits such as provident fund schemes under EPSF and PFMS schemes along with ESPS/ESI schemes for employees working overseas locations (excluding US)
Consultant Salary In Tcs
Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai.[6][7] It is a part of the Tata Group and operates in 149 locations across 46 countries.[8] In July 2022, it was reported that TCS had crossed 6 lakh or 600,000 Employees worldwide. [9]
TCS is the second largest Indian company by market capitalisation and is among the most valuable IT service brands worldwide.[10][11][12] In 2015, TCS was ranked 64th overall in the Forbes “World’s Most Innovative Companies” ranking, making it one of the highest-ranked IT services companies and a top Indian company.[13] As of 2018, it is ranked eleventh on the Fortune India 500 list.[14] In April 2018, TCS became the first Indian IT company to reach $100 billion in market capitalisation[15] and the second Indian company ever (Reliance Industries achieved it in 2007)[16] after its market capitalisation stood at ₹6.793 trillion (equivalent to ₹7.7 trillion or US$97 billion in 2020) on the Bombay Stock Exchange.[17][18][19]
In 2016–2017, parent company Tata Sons owned 72.05% of TCS[20] and more than 70% of Tata Sons’ dividends were generated by TCS.[21] In March 2018, Tata Sons sold stocks of TCS worth $1.25 billion in a bulk deal.[22] As of 15 September 2021, TCS has recorded a market capitalisation of US$200 billion, making it the first Indian IT firm to do so.[23]
Contents
- 1History
- 2Operations
- 3Employees
- 4Financials
- 5Sponsorships
- 6Controversies
- 7See also
- 8References
- 9External links
History
1968–2005
Tata Consultancy Services Limited, initially started as Tata Computer Systems, was founded in 1968 by a division of Tata Sons Limited.[24] Its early contracts included punched card services to sister company TISCO (now Tata Steel), working on an Inter-Branch Reconciliation System for the Central Bank of India,[25] and providing bureau services to Unit Trust of India.
In 1975, TCS delivered an electronic depository and trading system called SECOM for a Swiss company SIS SegaInterSettle; it also developed System X for the Canadian Depository System and automated the Johannesburg Stock Exchange.[26] TCS associated with a Swiss partner, TKS Teknosoft, which it later acquired.[27]
In 1980, TCS established India’s first dedicated software research and development centre, the Tata Research Development and Design Centre (TRDDC) in Pune.[28] In 1981, it established India’s first client-dedicated offshore development centre, set up for clients Tandem. In 1993 TCS partnered with Canada-based software factory Integrity Software Corp, which TCS later acquired.
In anticipation of the Y2K bug and the launch of a unified European currency (Euro), Tata Consultancy Services created the factory model for Y2K conversion and developed software tools which automated the conversion process and enabled third-party developer and client implementation.[29] Towards the end of 1999, TCS decided to offer Decision Support System (DSS) in the domestic market under its Corporate Vice President and Transformation Head Subbu Iyer.[30] The company also registered its first tagline “Beyond the Obvious” in 1999.[31][32]
2005 to 2021
On 25 August 2004, TCS became a publicly listed company.[33][34]
In 2005, TCS became the first India based IT services company to enter the bioinformatics market, [35] and in the same year TCS changed the tagline from “Beyond the Obvious” to “Experience Certainty”.[36] In 2006, it designed an ERP system for the Indian Railway Catering and Tourism Corporation.[37] By 2008, its e-business activities were generating over US$500 million in annual revenues.[38][39]
TCS entered the small and medium enterprises market for the first time in 2011, with cloud-based offerings.[40] On the last trading day of 2011, it overtook RIL to achieve the highest market capitalisation of any India-based company.[41] In the 2011–12 fiscal year, TCS achieved annual revenues of over US$10 billion for the first time.[42]
In May 2013, TCS was awarded a six-year contract worth over ₹11 billion (US$140 million) to provide services to the Indian Department of Posts.[43] In 2013, the firm moved from the 13th position to 10th position in the League of top 10 global IT services companies[44] and in July 2014, it became the first Indian company with over ₹5 trillion (equivalent to ₹6.8 trillion or US$85 billion in 2020) market capitalisation.[45][46]
In Jan 2015, TCS ends RIL‘s 23-year run as India’s most profitable firm.[47]
In Jan 2017, the company announced a partnership with Aurus, Inc., a payments technology company, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform.[48] In the same year, TCS China was associated as a joint venture with the Chinese government.[49]
TCS announced its FY19 Q3 results posting 24 per cent year-on-year (YoY) rise in profit at ₹81.05 billion (equivalent to ₹86 billion or US$1.1 billion in 2020).[50]
TCS received the 2019 American Business Awards from Four Stevies.[51]
On 8 October 2020, TCS surpassed Accenture in market capitalisation to become the world’s most-valuable IT company with a market cap of $144.73 billion.[52] On 25 January 2021, TCS again surpassed Accenture briefly, in market capitalisation to become the world’s most-valuable IT company with a market cap of $170 billion.[53] The same day, TCS became India’s most valuable company, surpassing Reliance Industries with a market cap of ₹12.55 trillion (US$160 billion).[54] In 2021 Tata is also one of the largest job provider in India hiring 43,000 individuals in H1 FY22.[55] In October 2021, N Ganapathy Subramaniam, the COO of TCS, stated that its platforms and products business is worth approximately $3 billion.[56] The company’s platforms and products business includes TCS’ SaaS-based platforms, and according to Subramaniam, between October 2020 and October 2021, 95% of the deals won by TCS have been for its cloud platforms and SaaS platforms.[56] Also, in 2021 TCS got a millennial makeover. Under the leadership of Rajashree R, TCS Chief Marketing Officer (CMO), the company changed the tagline from “Experience Certainty” to “Building on Belief”.[57]
Acquisitions
| Name | Acquisition date | Activities | Country of HQ | Price | Employees (at acquisition) | Description | Sources |
|---|---|---|---|---|---|---|---|
| CMC Limited | October 2001 | IT Services | India | $33.9m | 3,102 | Gets embedded expertise & good domestic customer reach. CMC Amalgamated with TCS on 28 April 2015.[1] | [58][59][60] |
| Airline Financial Support Services India (AFSI) | January 2004 | BPO | India | $5.1m | 400 | BPO expertise in Airline and Hospitality sector. | [61][62] |
| Aviation Software Development Consultancy India (ASDC) | March 2004 | IT Services | India | $3.1m | 180 | ||
| Phoenix Global Solutions | May 2004 | Business Process Outsourcing | India | $130m | 400 | Acquire expertise in insurance-domain consulting. | [63][64] |
| Swedish Indian IT Resources AB (SITAR) | May 2005 | IT Services | Sweden | $4.8m | n/a | Acquire blue-chip European customers like Ericsson, IKEA, Vattenfall, and Hutchison; SITAR was TCS’ exclusive partner in Sweden and a non-exclusive partner in Norway. | [65][66] |
| Pearl Group | October 2005 | Insurance | United Kingdom | $94.7m | 950 | Acquired life and pension outsourcing business from Pearl Group; domain knowledge of life and pension underwriting business. | [67][68] |
| Financial Network Services (FNS) | October 2005 | Core Banking Product | Australia | $26m | 190 | TCS acquired core banking solution product (BANCS) and access to 116 customers in 35 countries; FNS was an existing partner for TCS. | [69][70] |
| Comicrom | November 2005 | Banking BPO | Chile | $23m | 1,257 | Entry into Latin America; access to payment processing platform. | [71][72] |
| Tata Infotech | February 2006 | IT Services | India | $259.2m | 3,600 | The merger of Tata Infotech added 15 new Fortune 500 clients. | [73][74][75] |
| TCS Management | November 2006 | IT Services | Australia | $13m | 35 | Access to Australian clients. | [76][77] |
| TKS-Teknosoft | November 2006 | Banking Product | Chile | $80.4m | 115 | Expand product portfolio by acquiring rights to Quartz and ownership of Alpha and e-portfolio, enhanced presence in Switzerland and France. | [78] |
| Citigroup Global Services Limited | December 2008 | Captive BPO of Citigroup Inc. | India | $512m | 12,472 | TCS acquired key Banking and Financial Services (BFS) domain knowledge. | [79][80] |
| Supervalu Services India | September 2010 | Captive IT/BPO unit of Supervalu Inc. in India | India | $100m | 600 | TCS had a deal with Supervalu to have their software outsourcing to TCS and acquired Supervalu India. | [81] |
| Computational Research Laboratories | August 2012 | High Performance Computing | India | $34m | 80 | Acquire expertise in High Performance Computing (HPC) applications and Cloud services. | [82][83] |
| Alti SA | April 2013 | IT Services | France | $97.5m | 1200 | Access to blue-chip French and European clients in banking, luxury, manufacturing, and utility sectors. | [84] |
| BridgePoint Group | November 2018 | Management consulting | United States | Acquire expertise in US retirement services. | [85][86][87] | ||
| Postbank Systems | November 2020 | IT Services | Germany | Acquire expertise in the Banking and Financial Services (BFS) domain. Deutsche Bank restructures itself and sold its IT-subsidiary to TCS, which has been their partner in IT services already. | [88] | ||
| Pramerica Systems Ireland | December 2020 | IT Services | Ireland | 1500 | Prudential Financial sold its Irish subsidiary to TCS. Acquires expertise in the Banking and Financial Services (BFS) domain and established Global delivery center in Ireland. |
